Crypto payments provider MoonPay has received authorization from the New York State Department of Financial Services (NYDFS) to operate as MoonPay Trust Company, LLC, a New York Limited Purpose Trust Company (LPTC). This permission allows the company to offer digital asset custody and over-the-counter (OTC) trading services, making it one of the few players operating under one of the most respected regulatory frameworks globally.
Ivan Soto-Wright, co-founder and CEO of MoonPay, stated that the acquisition of the New York Trust Charter underscores the company’s dedication to maintaining high standards of compliance, security, and governance. He emphasized that this achievement will enable MoonPay to strengthen its relationships with global financial institutions, broaden its regulated offerings, and further integrate traditional and digital finance in a reliable manner.
With this latest approval, MoonPay joins an exclusive group of digital-asset firms that have been granted both the NYS Bitlicense and the New York Limited Purpose Trust Charters. Notable companies within this group include Coinbase, PayPal, Ripple, and NYDIG.
The introduction of MoonPay Trust Company enhances the firm’s regulated global presence and complements its existing financial licenses across various jurisdictions. This significant development demonstrates MoonPay’s commitment to serving institutional and enterprise customers effectively. Additionally, the trust company provides a potentially compliant avenue for future stablecoin issuance, although any new services will require explicit approval from the NYDFS.
